Owning a marina in South Carolina can offer an exciting lifestyle on the water. Marinas provide a place for private and commercial boat owners to moor their vessels before they head inland. But owning a marina also brings serious risk exposures from many sources.

Marinas face risks like theft, damage to boats, and even damage to the structure of the marina itself. Protecting your property from damage and ensuring that your liability risks are covered should be top-of-mind for any marina in South Carolina.

Many of your risks can be covered with marina insurance, or a package of South Carolina business insurance policies designed for marina owners. A South Carolina independent insurance agent can help you get the marina insurance you need.

What Is Marina Insurance?

Marina insurance in South Carolina is a package of commercial insurance policies that protect both the marina owner’s property and the property of private boat owners whose boats are in their care, custody, and control. Marina insurance also covers your liability risks, so if you’re responsible for causing an injury or damaging someone else’s property, you can cover the costs without going bankrupt.

Marina insurance in South Carolina may include coverage for both land and waterborne exposures at your marina. Your exposures may include damage to docks, piers, bulkheads, fuel tanks and dispensers, and buildings from a variety of hazards. In addition, you face liability risks including injury to the public, customers, and visitors.

Insurance companies that specialize in marina insurance often offer commercial insurance packages that are designed specifically for the needs of marina owners.

How to Insure a Marina in South Carolina

There are over 418,000 small businesses in South Carolina, employing nearly 795,000 people. Last year nearly $6 billion in commercial insurance claims were paid in South Carolina across businesses of all sizes.

No doubt marinas make up an important portion of the small businesses in South Carolina, especially along the coast. Like all small business owners, marina owners need to protect their owned buildings and commercial property, vessels and vehicles, customers, and employees. To that end, you’ll need a variety of policies specific to each of these risks.

Marina insurance in South Carolina may include some or all of the following types of coverage.

• Marina operators legal liability: Covers your legal liability for boats and related property in your care, custody, or control (either moored at your marina or being stored on your property). This coverage may include both land and waterborne exposures located at the marina. It also includes protection against damage sustained during boat removal, incorrect winterizing, fire damage, and other incidents that can occur during storage.
• Marine general liability: Protects your assets if you’re sued for something you did to cause an injury or property damage. Covers your on-shore operations for liability claims including bodily injury, property damage, personal injury, and advertising injury (damage from slander or false advertising).
• Marine hull and machinery: Covers all owned watercraft for loss or damage to hull and machinery. The hull is the structure of the vessel. Machinery is the equipment that generates the power to move the vessel and control the lighting and temperature systems, such as the boiler, engine, cooler, and generator.
• Marine protection and indemnity: Provides liability coverage for owned watercraft. It protects you against bodily injury or property damage claims arising out of the use or ownership of declared vessels. It typically covers hospital and medical expenses related to a loss of life, injury, or illness.
• Umbrella insurance: Protects against catastrophic losses above and beyond the limits of several underlying policies, including marine general liability insurance and commercial auto insurance. It provides excess coverage when the limits of underlying liability policies are exhausted.
• Marina property insurance: Covers on-shore commercial property like buildings, office spaces, or warehouses, as well as piers, wharves, and docks when they’re damage by fire, theft, vandalism, or severe weather.

In addition to insurance policies designed specifically for marinas, you’re also likely to need some other marina insurance policies including:

• Workers’ compensation insurance or Longshore and Harbor Workers’ Compensation insurance
• Pollution liability insurance
• Employment practices liability insurance
• Commercial auto insurance

What Doesn't Marina Insurance Cover in South Carolina?

Every insurance policy you purchase for your marina in South Carolina will include a very specific list of coverage exclusions, or things that are not covered by the policy. Commercial property policies typically exclude coverage for damage caused by flooding or earthquakes. And a marine general liability policy usually won’t protect you if you’re sued for damage caused by pollution or some other environmental negligence.

But in many cases, what is excluded in one policy can simply be added back on to the policy with an endorsement or by purchasing a separate, risk-specific policy.

You can cover your unique liability risks with professional liability (errors and omissions) insurance, cyber liability insurance, pollution liability insurance, employment practices liability insurance, or other customized marina insurance products.

But remember, some situations will almost never be covered. It’s common for insurance companies to exclude coverage for damage caused by “acts of war.” What’s more, damage or injuries caused by intentional wrongdoing or criminal acts by you or your employees aren't likely to be covered by any policy under any circumstances.

What Are the Benefits of Marina Insurance in South Carolina?

Marina insurance in South Carolina simply helps protect your business from catastrophic losses. And marina owners face no shortage of risks.

Marina insurance can help you protect your own commercial property, including buildings, vessels, docks, piers, and machinery. And it can help you protect your customers’ boats that are in your care, custody, and control.

What’s more, if you’re sued for damaging someone else’s property or injuring someone as a result of your marina operations, your marina insurance will help you pay for direct costs as well as attorneys, court costs, and any financial payouts if you’re sued.

What Does Marina Insurance Cost in South Carolina?

Like any other kind of commercial insurance, marina insurance costs in South Carolina are hard to predict. That’s because marina insurance costs are based on your unique business risks. That can include:

• Your location and the crime and weather risks there
• The size of any buildings you own
• The value of your commercial property, including buildings, vessels, machinery, docks, piers, and so on
• The average number of non-owned vessels that are in your care, custody, and control, and the value of those vessels
• Whether you own vehicles, how many, and their value
• The number of employees you have
• How risky your employees’ work is

A variety of other risk factors will come into play, as well. It’s best to work with an agent who understands your business and can help you get multiple quotes for coverage.

How a South Carolina Independent Insurance Agent Can Help

An independent insurance agent can help you find insurance companies that specialize in marina insurance. Using a cookie-cutter approach to your unique and risky business would most certainly leave you with serious gaps in coverage.

But a South Carolina independent insurance agent isn’t tied down to one insurance company. They can shop around and find the best coverage for your needs and budget.